Matthew T. Plavan Sells 120,000 Shares of Origin Materials, Inc. (NASDAQ:ORGN) Stock

Origin Materials, Inc. (NASDAQ:ORGN) CFO Matthew T. Plavan sold 120,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $1.32, for a total transaction of $158,400.00. Following the sale, the chief financial officer now owns 1,223,088 shares in the company, valued at approximately $1,614,476.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Origin Materials Stock Performance

Shares of NASDAQ:ORGN opened at $1.28 on Friday. The company’s fifty day moving average is $1.47 and its 200 day moving average is $1.17. Origin Materials, Inc. has a 52 week low of $0.44 and a 52 week high of $1.90. The company has a current ratio of 13.57, a quick ratio of 13.48 and a debt-to-equity ratio of 0.01.

Origin Materials (NASDAQ:ORGN) last issued its earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $7.03 million during the quarter. Origin Materials had a negative return on equity of 14.10% and a negative net margin of 37.93%. As a group, equities research analysts predict that Origin Materials, Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Origin Materials

Large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Origin Materials in the second quarter valued at about $31,000. US Bancorp DE increased its position in shares of Origin Materials by 464.0% in the third quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 23,200 shares during the period. Moss Adams Wealth Advisors LLC purchased a new position in shares of Origin Materials in the second quarter valued at about $45,000. Point72 DIFC Ltd purchased a new position in shares of Origin Materials in the second quarter valued at about $50,000. Finally, AQR Capital Management LLC increased its position in shares of Origin Materials by 352.9% in the second quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 77,119 shares during the period. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America upgraded shares of Origin Materials from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $1.35 to $3.00 in a research report on Friday, August 16th.

Origin Materials Company Profile

Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.